US Commercial Property Update Is there scope for office to residential conversions? There currently appears to be little economic scope for conversions to residential across the six major office markets. But our forecasts of falling values and rising vacancy in the office sector... 7th May 2021 · 3 mins read
US Commercial Property Update TV and film to support LA office demand We expect a strong recovery in TV and film-related employment will support office demand in LA over the next five years. Alongside a relatively small development pipeline and low office rents, this... 23rd April 2021 · 3 mins read
US Commercial Property Update D.C. service sector supports out-performance In our recent Office and Apartment Outlooks, we identified Washington D.C. as the top performer over a five-year forecast in both sectors. Those expectations are driven by several factors influencing... 20th April 2021 · 3 mins read
Europe Commercial Property Update Where is there scope for conversions to residential? Few office or retail markets currently look economically viable for residential conversions. However, expected falls in values, particularly for retail, and acute housing shortages suggest that there... 9th April 2021 · 3 mins read
US Commercial Property Outlook Major Office Markets Outlook (Q1 2021) There are forecast downgrades across the board this quarter, owing to the changes to our occupier demand expectations at the sector level. The markets broadly split into three pairs. New York City and... 31st March 2021 · 16 mins read
US Commercial Property Outlook Faster bond yield rises will limit prospects for capital values The vaccine rollout and stimulus bill are unquestionably positive for the economy but may be a mixed blessing for real estate. Those two factors are probably most positive for the apartment sector... 25th March 2021 · 24 mins read
US Commercial Property Update Chicago to be among the office market “winners” Our analysis suggests that both higher asking rents and a greater proportion of information jobs have been associated with a larger rise in sublease vacancy in recent quarters. We think there are good... 17th March 2021 · 3 mins read
Europe Commercial Property Focus Estimating the natural vacancy rate in European offices Given that the natural vacancy rate (NVR) provides a better gauge of office market conditions than the absolute vacancy rate, we set out to estimate the NVR across European office markets. Future... 11th March 2021 · 17 mins read
US Commercial Property Update Major downgrade to office occupancy forecasts On the back of deeply negative office absorption last year and the continued flow of announcements from firms cutting their office space, we have made major revisions to our demand forecasts across... 10th March 2021 · 3 mins read
US Commercial Property Update New space brings downgrade to NYC office rents The limited impact of the virus on New York City office construction means that we now expect at least 10mn sq. ft. of office space to be added across 2022-23. This could cause the vacancy rate to... 2nd February 2021 · 3 mins read
US Commercial Property Update Life science growth will support Boston offices We expect the boost in demand for life science product will support Boston’s office market. At the same time, office-to-lab conversions will limit the impact of a relatively large development pipeline... 27th January 2021 · 3 mins read
US Commercial Property Update Hub and spoke model not the future of offices Many commentators are arguing that firms will shift towards a “hub and spoke” model following the pandemic. But we think the arguments for this approach are not as strong as they first seem, and that... 12th January 2021 · 3 mins read
US Commercial Property Outlook Structural changes will keep office and retail in the doldrums While the news of vaccines provides a fillip to our economic outlook, it does not have a major bearing on our occupier market forecasts. After all, we expect that structural change, rather than... 11th December 2020 · 23 mins read
US Commercial Property Update Swathes of sublease space will soon hit office rents The volume of available sublease space already exceeds that seen in the last two downturns. And an average discount of 20% to landlord asking rents, rising to 30%-plus in some cities, will reduce the... 4th November 2020 · 3 mins read
UK Commercial Property Update Home working to cut office demand by up to 10% An abrupt U-turn on workers returning to their offices last month signalled that the virus will continue to dominate lives in the UK into next year. In fact, we think office working may never quite be... 19th October 2020 · 6 mins read
US Commercial Property Update Remote working fatigue won’t derail long-run adoption Low utilization of office space supports our expectations of weak short-term demand. And, despite some firms raising concerns over productivity as the current remote work “experiment” continues, there... 23rd September 2020 · 3 mins read
